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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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In the News

Private Bankers to the Wealthy are Still in High Demand Even as Layoffs Loom for Wall Street

Posted by Louis Diamond

June 29, 2022
Louis Diamond Quoted
by Hayley Cuccinello

With the stock market tumbling and IPOs at a standstill, many banks have enacted hiring freezes. Layoffs loom large, and already thousands of mortgage lenders at Wells Fargo and JPMorgan have been laid off due to interest rate hikes.

But for private bankers who service the wealthy, hiring hasn’t slowed down in the slightest, three recruiters told Insider.

Despite the economic downturn, established private bankers who can bring clients to new firms are “almost immediately revenue-positive,” according to recruiter Louis Diamond of Diamond Consultants.

His clients have not changed their hiring plans, and candidates are not backing away from making moves.

Demand still far outstrips supply, said headhunter Fira Yagyaev, and private banks aren’t just eager to hire more bankers.

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About Louis Diamond

President – Someone who “looks at every angle from a strategic perspective.” Sophisticated advisors and business owners alike learn quickly that they’ve found the right person in Louis when seeking counsel and clarity on growth, career management and the ever-changing industry landscape. Learn more...

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